econ vocab 5
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fractional reserve banking
banking system that keeps only a fraction of funds on hand and lends out the remainder
coins and paper bills used as money
objects that have value in themselves as well as for use as money
failure to pay back back loan
federal deposit insurance corporation. the government agency that insures customer deposits if a bank fails
(system) the nation's central banking system
the amount borrowed
objects with value that can be exchanged for something else of value
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